InteliData Plunges Into TheRed
RESTON, Va. - (08/06/04) -- InteliData Technologies Corp. saidThursday a $26.2 million goodwill impairment charge pushed it intothe red to the tune of $27.8 million, or 54 cents a share, for thesecond quarter. That compares to a slight loss of $11,000, or zerocents a share, for the second quarter last year. As a result,losses for the first six months of the year mounted to $29.3million, or 57 cents a share, form $158,000, or zero cents a share,for the first half last year. InteliData said reveneus eroded inthe second quarter, falling 37% to $3.7 million; and by 37% for thefirst half of the eyar to $7.3 million. InteliData also said itspresident and chief operating officer, Michael Jennings, will beretiring in mid-August and will be succeeded by Karen Kracher, thecurrent chief sales and marketing officer.